Two-Bedroom Residential Income
For Sale
$875,000
2605 Frederick Douglass Boulevard 4B, New York City, NY 10030
Corner apartment with an open layout, private elevator access, and full in-unit laundry.
Property Size1,244 SF
Price / SF$703.38
Days on Market151
Property Features for 2605 Frederick Douglass Boulevard 4B
General Information
Standard status
Active
Size
1,244 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$160
Amenities
virtual doorman
package room
landscaped roof deck
in-unit washer and dryer
central heating and A/C
Building Details
Building Size
1,244 SF
Year Built
2006
Listing Agency:
Compass
(646) 739-7116
Listed By:
Nigel Pearce
(646) 739-7116
Source:
Miradorrealestate
Added: Mar 25
Changed: Aug 21
Last Checked: Aug 21 at 12:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This 1,244-square-foot corner apartment is configured with two bedrooms and an open living layout. The residence includes high ceilings, hardwood flooring, large windows, central heating and A/C, and an in-unit washer and dryer. Its kitchen has custom cabinetry and chrome appliances, while the primary bedroom includes an en-suite bathroom with a soaking tub and windows. The property is part of a 14-unit condominium completed in 2006, with a keyed elevator, virtual doorman, package room, and landscaped roof deck.
Located at 2605 Frederick Douglass Boulevard in New York City, the apartment is near St. Nicholas Park and Jackie Robinson Park. The surrounding area includes restaurants, coffee shops, and a Key Food supermarket one block away. Local B/C subway service, Citi Bike, and bus transportation are also nearby.
Located at 2605 Frederick Douglass Boulevard in New York City, the apartment is near St. Nicholas Park and Jackie Robinson Park. The surrounding area includes restaurants, coffee shops, and a Key Food supermarket one block away. Local B/C subway service, Citi Bike, and bus transportation are also nearby.
Key Highlights
- 1,244‑square‑foot two‑bedroom corner apartment
- Part of a 14‑unit condominium completed in 2006
- Keyed elevator, virtual doorman, package room, and landscaped roof deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,921
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,420
$778.4K
Cap Rate 7%
$556,014
$556.0K
Cap Rate 9%
$432,456
$432.5K
Market Conditions
NOI Build-Up for 1,244 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.5K $59.88/SF
− Vacancy
−$3.7K −$2.99/SF
EGI
$70.8K $56.89/SF
− OpEx
−$31.8K −$25.60/SF
NOI
$38.9K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,420
Cap Rate 7%
$556,014
Cap Rate 9%
$432,456
Alternative Uses
Best Use
Apartment 5plus
$556.0K
$486.5K – $648.7K
NOI $38,921 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.10M
$2.71M – $3.61M
NOI $216,755 @ 7.0% cap · market cap 24.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,019
Businesses Nearby
Explore this area
Business Placement
Demographics for 10030, NY
29,686
Population
14,602
Households
2
Avg Household Size
36
Median Age
35%
College-Educated
78%
High-School Grad
0.3 sq mi
ZIP Area
98,953
Density / Sq Mi
$42,738
Median Household Income
$37,388
Median Earnings
$1,204
Median Rent
$810,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner apartment with an open layout, private elevator access, and full in-unit laundry.
Where is this residential income property located?
The property is located at 2605 Frederick Douglass Boulevard 4B New York City, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 1,244‑square‑foot two‑bedroom corner apartment; Part of a 14‑unit condominium completed in 2006; Keyed elevator, virtual doorman, package room, and landscaped roof deck
